After more than two years of speculation and piecemeal details, the fully electric BMW i3 has arrived (although, we’ve already had a go behind the wheel of a prototype). It’s a polarizing vehicle, to put it mildly. Optimists, such as BMW sales and marketing chief Ian Robertson, believe that the launch of the i3 "heralds the dawn of a new era for individual mobility.” Skeptics fear it will be a blunder on par with (or even surpassing) the company's still-not-forgotten C1 debacle.

Designed from the ground up as a fully electric vehicle, the i3 is the direct result of a strategic decision taken by the company's board at the height of optimism about electric vehicles. Emboldened by political encouragement and the anticipation of a race toward e-mobility between premium automakers, BMW forged ahead with arguably the boldest electric-vehicle strategy of any major manufacturer on the planet. Thus, the i brand was conceived—the i3 is just the beginning, the i8 plug-in hybrid sports coupe will follow.

Unlike many EV efforts, the i3 was designed to be an electric from the ground up. This approach liberated BMW from the packaging restraints posed by a conventional powertrain. Moreover, no expense was spared to take weight out of the vehicle in an effort to offset the hefty 450-pound, 22-kWh battery pack. That spare-no-expense strategy yielded considerable usage of aluminum, magnesium, and carbon fiber, as well as a respectable curb weight of 2700 pounds, according to BMW.

The i3 is propelled by a 170-hp electric motor that churns out 184 lb-ft of torque driving the rear wheels through a single-speed transmission. That’s sufficient to hurl the tall-roof vehicle from a standstill to 60 mph in 7.2 seconds, BMW says. Smiles fade soon thereafter, as top speed is limited to 93 mph. This makes the i3 the slowest series-production Bimmer since the venerable BMW 700, a two-cylinder compact, went out of production in 1965.

BMW says that the "usable range" for the i3 is 80 to 100 miles in the car’s standard Comfort setting, and promises figures will be improved by selecting the Eco or Eco Plus modes. Sport and Sport Plus modes, as found in conventionally powered BMWs, are conspicuously absent. Once the battery pack—which may be considerably lower depending on driving profile and HVAC use—is depleted, charging takes three hours with a 220-volt outlet. Needless to say, plugging it into a 110-volt household charger will take a lot longer.

It is reassuring that BMW offers an optional range-extender engine: a 34-hp, 650-cc two-cylinder that adds 330 pounds—and a whopping $3850 to the i3's $41,350 base sticker—of heft. Customers thus have a choice to go purely electric, Tesla-like, or enjoy the added flexibility and range of an internal-combustion engine, as in a Cadillac ELR or a Chevrolet Volt.

The driving dynamics of the i3 will seem peculiar to those who’ve never driven an EV. It’s configured for "single-pedal driving," which means that the energy recovery that occurs on throttle lift is so strong that the brake pedal almost never needs to be used at lower speeds. There is, however, a position in the accelerator set between application and lift that allows for coasting; at higher velocities, coasting is the standard setting—as to what constitutes “higher” or “lower” speeds, BMW’s not saying just yet.

Handling will be helped by a 50/50 weight distribution, a low center of gravity, and a sophisticated strut and multilink suspension setup. Electromechanical power steering, unsurprisingly, is standard; the i3 sits on 19-inch aluminum wheels—20s are optional—wrapped in skinny 155/70 rubber.

The i3's 360 Electric support program includes installation and setup of a home charging station, as well as providing assistance in finding the nearest public charging station. As a part of the 360 Electric service is the iRemote app that links the car with the owner's mobile phone, allowing owners to monitor charge status, and operate the HVAC system, locks, lights, and even the horn. In the U.S. market, the compact hatchback is offered in three trim levels honoring the metric system: Mega, Giga, and Tera. All come with a navigation system, BMW's ConnectedDrive telematics interface, and 19-inch aluminum wheels. The Mega is fitted with a cloth and faux-leather interior; the Giga comes with wool cloth and leather and adds a garage-door opener, a sunroof, satellite radio, and keyless entry; while the Tera trim gets all the goodies from Mega and Giga and adds a full leather interior.

Will the i3 succeed? The Bavarians’ press release was littered with green buzzwords, and illustrated a metropolitan landscape filled with emissions-free vehicles and clean air for all. Meanwhile, here in reality, we’re putting our hard-earned on a gut feeling that the i3 largely will be bought by current hybrid or efficient-compact owners, rather than those piloting decades-old, smog-billowing scrap heaps. In that light, BMW’s vision for a utopian future falls a bit flat.

Of course, electrics have a strong appeal to techno-geeks; we’re fascinated and hugely impressed by a number of electrified offerings—most notably the Chevy Volt and the Tesla Model S. Perhaps BMW's big gamble will pay off. The industry is watching.

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